Market Likely To Open Flat
Indian equities indices closed at record high after roller-coaster ride on January series F&O expiry day. The Sensex resumed its rise after breaking a 8-day rally yesterday, Nifty rose for the 10th straight session. As the Nifty clocked gains for the 10th straight session, it continued to march towards the 9000-mark, while the Sensex resumed its rise after breaking a 8-day rally yesterday. The Sensex rising 122.59 points to new closing peak of 29,681.77 and Nifty index gaining 38.05 points to 8,952.35.
It has been a stellar January series for the market as the Sensex and the Nifty surged more than 9% each. Bank Nifty gained 11% in the series. The BSE Mid-Cap index fell 37.36 points or 0.35% to settle at 10,771.08. The BSE Small-Cap index rose 9.64 points or 0.08% to settle at 11,378.75. Both these indices underperformed the Sensex.
The U.S. stock market is closing sharply higher after investors received encouraging news on corporate earnings and the jobs market. The S&P 500 closed up 19.10 points, or 1%, at 2,021.26. The Dow Jones Industrial Average jumped 225.48 points, or 1.3%, to 17,416.85, as big gains in McDonald’s Corp and Boeing Co helped lift the index. The Nasdaq Composite ended the day up 45.41 points, or 1%, at 4,683.41.
The government reported Thursday that weekly claims for unemployment benefits dropped to a 15-year low. Ford, Harley-Davidson, Coach and Ally Financial were among the companies that reported quarterly results that exceeded Wall Street's expectations.
European equities closed mixed on Thursday. The FTSE 100 closed provisionally down 0.5%. While Germany’s DAX turned higher by 0.3% at 10,690 and France’s CAC 40 reversed course and rose 0.4% to 4,631.43. Greece’s Athex Composite gained 3.2% to 733.61 following Wednesday’s drop to its lowest level in two years.
Asian shares mixed on Friday. Positive earnings results in Japan also lifted sentiment in Tokyo and Seoul. Nikkei jumps 0.6% recouped nearly all of Thursday's declines in early trade, as dollar-yen advanced above the 118 handle overnight. South Korea’s Kospi index currently trading at flat after positive start and Australia’s S&P/ASX 200 Index gained 0.7% and New Zealand’s NZX 50 Index slid 0.44%. The Shanghai Composite dropped 0.37% after positive start.
SGX Nifty is trading in green and up by 32.5 points. Indian market may expect to open flat to positive. AARTI DRUGS, BERGER PAINT, EXCEL Industry, Adani Enterprises, Aegis Logistics, Centum Electronics, Kansai Nerolac Paints, NTPC, PVR, Thermax, Tata Global, Thomas cook, Tech Mahindra, NTPC, Bank of Baroda and ICICI Bank and HCL Technologies would be reporting third quarter earnings today.